Alantra completes the sale of its stake in Alantra Wealth Management to Mutua
Date 4 May 2022
- Alantra has agreed to sell its remaining 24.4% stake in its private banking subsidiary, Alantra Wealth Management, to Grupo Mutua for €16.6 million. Following this transaction, Grupo Mutua will own 76.3% of the company, while the remaining 23.7% will be retained by the executives of the private banking business.
- This follows the divestment initiated in December 2018, when Grupo Mutua acquired a 50.01% interest in Alantra Wealth Management.
- This 24.4% divestment, which will report capital gains of €6.5m for Alantra, responds to the ambition of further developing our core activities: Investment Banking; Alternative Asset Management; and Fund Structuring and Distribution.
- Alantra Wealth Management will temporarily continue to use the “Alantra” brand name until it defines its new corporate identity.